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Capital Planning and Investment Committee

Mission Statement:

To review the short and long term capital needs of the Town, establish schedules for the useful life of new and existing, buildings and equipment, establish and maintain replacement schedules, examine and approve contractual maintenance and service plans for any new buildings and equipment and recommend annual capital expenditures including sources for funding. It is the Capital Committee’s responsibility to review capital expense items submitted for consideration by various town departments, boards or committees and determine if the proposed item represents a genuine need and if the proposed cost is reasonable. The Capital Committee shall also determine if alternative sources of funding were explored and upon their review, prioritize items to be funded. In considering requests the Capital Committee will take into account the cost of a capital item, future operating and maintenance costs and life expectancy and payback cost recovery if applicable.